Emaar MGF IPO subscribed 0.40 times

The Initial Public Offering of Emaar MGF Land Limited which opened for subscription on February 1, 2008 has received subscription of 0.40 times till 5:00 PM on 05 Feb 2008.

The company has come out with an IPO of 102570623 Equity Shares of Rs.10 each for cash at a price band of Rs 540 to Rs 630 through 100% book building process.

The IPO has received total bids for 41504700 equity shares against the offer of 102570623 shares. The issue has received bids for 1453870 equity shares at cut-off price.

The issue closes for subscription on February 6, 2008.

Source : Equity Bulls

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